The European Commission (EC) announced on Tuesday its approval of Trafigura Group Pte Ltd's acquisition of certain biofuel operations from British road fuels supplier Greenergy, specifically related to biodiesel, ethanol, and bioethanol supply.
Trafigura's takeover of Greenergy Halo Holdings III Limited, a UK-based entity, has been cleared by the EU merger regulator without imposing any conditions.
The Commission determined that the transaction would not significantly raise competition concerns, given the companies' combined market position following the proposed deal, as stated in a released statement.
In March, Trafigura initially agreed to purchase Greenergy's European business, followed by a subsequent announcement in May regarding the acquisition of its Canadian supply operations.
The assets involved in these transactions are being acquired from Brookfield Asset Management and its affiliate Brookfield Business Partners, with financial terms remaining undisclosed.
